DNB’s “first” peer-to-peer (P2P) mobile payment solution in Norway has become the number one downloaded app in the country. Dubbed “Vipps”, and launched six months ago with Tata Consultancy Services (TCS), it is now used by 25% of Norway’s population. The app is available for use on all mobile devices and it allows short chat […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Deutsche Börse and LSE to merge Two hearts beat as one. D+H Corporation joins US real-time payments rush Catches up with rivals FIS and Jack Henry. Deutsche Bank and Bank of China partner for cash management Becomes first […]
US-based banking and payments software vendor D+H has joined its rivals FIS and Jack Henry in partnering with The Clearing House (TCH) for real-time payments. D+H will provide US banks and financial institutions with access to TCH’s domestic instant payments system. The system is currently being built, with the “plumbing” provided by VocaLink. The vendor’s […]
A UK-based challenger bank, Mondo, has partnered with Thames Card Technology for debit card production and personalisation. Beta test cards will be issued to consumers this year. Mondo, which positions itself as a “mobile first” bank, will be offering a contactless debit card paired with a mobile banking app to its customers. The mobile app’s […]
A long-standing user of a host of Misys’ products, The United Bank of Egypt has committed to upgrade to the latest version of software. The project is penned for completion later this year. The bank will upgrade to FusionBanking Equation (core system), FusionBanking Trade Innovation (trade finance) and FusionCapital Opics (treasury and capital markets). It […]
The rise of m-wallets, smartphones and online shopping could be a boon to virtual incentives.
If you’re not analyzing your cardholders’ IVR interactions, you’re missing an opportunity to improve their experiences and engender loyalty. IVR design based on insights from previous interactions is crucial, particularly in prepaid where cardholders rely heavily on customer service.
Smaller banks bent on taking market share from larger rivals can appeal to mobile consumers without going all-in on NFC, at least for now.
Limitless: Next-Gen Commerce Has No Boundaries; Fighting Fraud: Mobile, EMV, Tax Refunds; Securing Mobile Payments; Former CFPB Lawyer: Coping with the Complaint Database; Record-Breaking IPOs, IoT and More
A recent report claiming that heightened anti-tax fraud efforts have led to taxpayers suffering delays in receiving refunds via prepaid cards mischaracterizes the situation, industry observers say.
The hearing followed an announcement from Committee Chairman Reb. Jeb Hensarling (R-Texas) of Republican committee members’ plans to reform financial reform in Washington, including demanding that regulatory agencies undergo a cost-benefit analysis of every regulation.
Banking executives worry the rise of fintech could spell trouble for their institutions, a new report reveals. Conducted by PwC, the survey of 544 CEOs, CIOs and other top managers at financial services providers in 46 countries found that 83 percent of respondents from traditional firms feared disruption caused by new standalone fintech companies could result in the loss of business.
A proposed class-action lawsuit regarding the alleged mishandling of bitcoin accounts in Japan will remain in the U.S., according to a federal court ruling in Chicago this week.
Hackers behind an $81 million theft that involved the U.S. Federal Reserve have cost the leading banking official in Bangladesh his job.
Even as I am prepping for my next industry event, observations from the last conference I attended continue to permeate my thoughts. The ATMIA US Conference that was held in New Orleans only recently and yet, three items continue to have me thinking about the durability, indeed longevity, of some of the points raised. In […]
The mobile-only bank, set to open for business later this year, integrates technology from a Xerox subsidiary into its mobile banking app.
M&A activity continues apace with cross-border B2B payments firm Payoneer completing its acquisition of escrow services provider Armor Payments. Meanwhile, FinTech Studios, which sells fintech software, has bought iUbble, a 2-year-old company whose own software includes a browser for Web and mobile apps.
The CFPB’s latest Supervisory Highlights report is the first to detail the bureau’s examinations of remittance providers since the agency’s rules governing international money transfers went into effect more than two years ago. Next up, Director Richard Cordray’s semi-annual report to Congress.
US-based Payoneer has acquired Armor Payments as it looks to create a “global alternative” to letters of credit (LCs). Armor Payments, co-founded by former PayPal Director, Scott Reynolds, is the “only licensed B2B payments provider offering Escrow-as-a-Service (EaaS)”. Through the acquisition, the new integrated Armor Payments Payoneer Escrow solution will allow B2B buyers and suppliers […]
Blackhawk Network has named Anil Aggarwal to the company’s board of directors.
The new design for the online and mobile payments service promises to increase transactions, according to Visa testing.
Consumers with Amazon’s Echo and other devices can pay their Capital One credit card bills and perform other tasks through the new service.
SAP Ariba and Discover Financial Services have rolled out their B2B payments service, AribaPay, in Canada. Last month AribaPay was launched in the US (also with the help of Discover). And earlier this year, SAP partnered with First Data for a rollout across Europe and Latin America. SAP Ariba says Canadian businesses and consumers pass […]
Texas-based asset administrator, Virtus Partners, has gone live with new back office lending system, FusionBanking LoanIQ, supplied by Misys. The new platform supports full-service agency administration and bank portfolio loan administration. It covers SME, commercial and syndicated lending. The contract was signed in November last year. The implementation work took around three months and came […]
MasterCard’s planned acquisition of VocaLink has the potential to create a new payments powerhouse in Europe and beyond. Tom Hay, head of payments, Icon Solutions, explores the possibilities. The news of the planned acquisition broke a few days after the Payment Systems Regulator’s (PSR) recommendation that banks divest their ownership of the company. I’m sure […]
The UK’s Payment Systems Regulator (PSR) is pushing for more competition in the supply of indirect access to payment systems. In its interim report “Market review into the supply of indirect access to payment systems”, the PSR says work to open up access is “generating increasingly positive results” but wants more. It adds: “Although there […]
Cash payments are in decline – mobile payments are on the rise (thank you, Apple Pay, Google’s Android Pay and Samsung Pay). This nifty infographics sums up the ideas on what the future of money might look like. The infographics is courtesy of the MBNA credit card company (owned by Bank of America) and its […]
BBVA is upgrading its ATM network with Wincor Nixdorf’s CINEO cash recycling systems to enable banknotes deposited by customers to be reused for cash withdrawals. The Spanish bank says that until now, ATMs had two different slots for cash deposits and cash withdrawals although cash from the deposits slot could not be used for cash […]
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! MasterCard mulls VocaLink acquisition There are some things money can buy. US to move to shorter T+2 settlement cycle by September 2017 Make a note, industry target has been unveiled. Big US banks to fight for instant payments […]
A new Visa study finds that credit, debit and prepaid cards added some $296 billion to the global gross domestic product between 2010 and 2015.
Bank of America and U.S. Bank are using the clearXchange network from Early Warning. The deal means the banks’ combined 22 million U.S. customers can send payments to each other—not to mention to customers of Early Warning’s other partners.
The changing face of commerce will be among the hot topics at the All Payments Expo (APEX) March 21-23 in New Orleans, where top prepaid, payments and retail executives will highlight the key developments that will shape the future of the shopping experience over the coming years, including omnichannel, new payment methods and the rise of millennials as a buying force.
For retailers that haven’t yet implemented EMV terminals, gift card acquisition fraud is on the rise, according to the National Retail Federation. But how big is the problem and what does it mean for legitimate buyers of the popular products?
JHA Payment Solutions, a division of Jack Henry & Associates, has teamed up with The Clearing House (TCH) as they seek to bring immediate payments to the US. TCH is currently working to build a new real-time payment system, which it will own and operate. In partnering with JHA Payment Solutions, TCH says it will […]
The Payment Services Directive (PSD) legislation was adopted in 2007 with the objective of making cross-border payments across the EU as easy, efficient and secure as “national” payments within a member state. With the arrival of PSD2, the trend of digital innovation in payment will accelerate, states Antony Bream, UK managing director at Crealogix. The original Directive […]
ExxonMobil is now the “first major” fuel retailer to accept mobile payments at the pump, including Apple Pay, throughout the majority of its US network. The app enables customers to authorise a pump for payment via the cloud. Customers have the option to select Apple Pay as a default form of payment from within the […]
Some of the major US banks are planning to tap into the instant payments market via their digital network, according to Reuters. Banks including JP Morgan Chase, Bank of America, Wells Fargo and US Bancorp will use their jointly-owned network, clearXchange, to let their customers transfer money. “What we are doing now is delivering payments […]
US-based Square’s payment processing and hardware is now available in Australia. Operating internationally since 2012, Australia marks the fourth market for Square, joining the United States, Canada and Japan. Square says its chip card reader is the “smallest” payment card reader on the Australian market. Sellers can accept card payments via Visa, MasterCard and American […]
NFC mobile payments continue to grab headlines, but to really drive uptake and ensure full market coverage, combining contactless cards with next-gen mobile banking apps is surely the right way to go for 2016’s challenger banks, says Paul Underwood, MD of Thames Card Technology. Much has already been said about the opportunity for challenger banks to […]
Europe is the largest single market in the world and an attractive proposition for most payments businesses looking to expand, but you do need to look at the different options available and determine the best route to market for your own firm.
